Food Packaging Industry Overview

The global food packaging market size was valued at USD 362.9 billion in 2022, and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2023 to 2030. 

The change in eating habits and the quickening pace of life has driven the demand for packaged food and is expected to significantly impact the food packaging industry. Moreover, the benefits offered by food packaging such as extended and stable shelf-life, high barrier properties, and safety, thereby boosted the food packaging industry's growth. Factors such as the use of high-performance materials and the availability of diverse material compositions in the market are expected to aid the growth of the food packaging industry.

Gather more insights about the market drivers, restrains and growth of the Food Packaging Market

Food packaging provides various key benefits such as the prevention of food contamination and improvement of food shelf-life along with heightened efficiency. These are expected to boost the food packaging industry's growth. Moreover, the shrinking household size, rising disposable income, and the increasing population are also expected to positively impact the market.

The growth of the industry in the U.S. is expected to be fueled by the rising popularity of single-serve packs and the growing urban population percentage leading to the growing consumption of packaged food. Industry growth. These factors are also supported by increasing infrastructural developments for the recycling of glass, metals, and plastics. However, concerns regarding wastage due to improper packaging may hamper growth.

The bargaining power of buyers in the food packaging industry is expected to remain high during the forecast period. The packaged food industry is characterized by the presence of a large number of buyers, which is expected to increase over the forecast period. In addition, buyers seek innovative and customized solutions for their products and exhibit high levels of price sensitivity. Furthermore, they often resort to material substitution.

The food packaging industry is highly regulated by government agencies such as the U.S. FDA and European Commission. These agencies impose stringent regulations regarding the use of materials for food packaging and types of food packaging. The food packaging industry is shifting toward including sustainable packing materials such as bio-based plastics which in turn is further expected to heighten industry growth.

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

• The global bioplastic packaging market size was estimated at USD 12.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.9% from 2022 to 2030. 
• The global rigid packaging market size was valued at USD 472.19 billion in 2016. It is projected to witness a CAGR of 6.7% from 2016 to 2025. Surging demand for eco-friendly and sustainable packaging is one of the key trends stoking market growth.

Food Packaging Market Segmentation

Grand View Research has segmented the global food packaging market based on type, material, application, and region:

Food Packaging Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Rigid
• Semi-rigid
• Flexible

Food Packaging Material Outlook (Revenue, USD Billion, 2018 - 2030)

• Paper & Paper-based Material
• Plastics
• Metal
• Glass
• Others

Food Packaging Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Bakery & Confectionary
• Dairy Products
• Fruits & Vegetables
• Meat, Poultry & Seafood
• Sauces & Dressings
• Others

Food Packaging Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  1. U.S.
  2. Canada
  3. Mexico
• Europe
  1. Germany
  2. France
  3. UK
  4. Italy
• Asia Pacific
  1. China
  2. India
  3. Japan
  4. Australia
• Central & South America
  1. Brazil
• Middle East & Africa
  1. Saudi Arabia

Key Companies profiled:

• Amcor plc
• Sealed Air
• Sonoco Products Company
• Berry Global, Inc.
• WestRock Company
• Mondi
• Genpak LLC
• Pactiv LLC
• Chantler Packages
• WINPAK LTD.
• Alpha Packaging
• BE Packaging
• Cheer Pack North America
• Evanesce Packaging Solutions Inc.
• Pacmoore Products Inc.
• Innovative Fiber
• Emmerson Packaging
• PakTech
• Tradepak
• ProAmpac

Key Food Packaging Company Insights

The market exhibits the presence of a large number of players, most of which operate through North America and Europe. Players are exhibiting immense interest in investing in Asia Pacific to expand their business. They operate through dedicated distribution networks and manufacturing locations across the globe.

To increase their market share and augment their revenues, companies offer extensive product customizations. They strive to replace existing materials with biodegradable ones to meet changing government standards. A large number of companies are integrated across the value chain and indulge in captive consumption of raw materials to reduce production costs.

In recent years several packaging technologies have been introduced in the global market due to continuous investments in research & development programs by leading packaging companies. Child-proof & elderly-friendly packaging, retort packaging, modified atmosphere packaging (MAP), and temperature-controlled packaging, are a few of the commonly used packaging technologies.

Order a free sample PDF of the Food Packaging Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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